First Trust Advisors LP Boosts Stock Position in Accel Entertainment, Inc. $ACEL

First Trust Advisors LP lifted its stake in shares of Accel Entertainment, Inc. (NYSE:ACEL) by 43.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 203,057 shares of the company’s stock after acquiring an additional 61,098 shares during the quarter. First Trust Advisors LP owned approximately 0.25% of Accel Entertainment worth $2,215,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its stake in Accel Entertainment by 456.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,618 shares of the company’s stock worth $66,000 after acquiring an additional 4,608 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Accel Entertainment by 195.9% in the second quarter. Tower Research Capital LLC TRC now owns 7,099 shares of the company’s stock worth $84,000 after purchasing an additional 4,700 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Accel Entertainment in the fourth quarter worth $118,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Accel Entertainment in the first quarter worth $110,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Accel Entertainment during the 4th quarter valued at $131,000. 55.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACEL has been the topic of a number of analyst reports. Wall Street Zen cut shares of Accel Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings raised Accel Entertainment from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Citizens Jmp boosted their price objective on Accel Entertainment from $14.00 to $15.00 and gave the company a “market outperform” rating in a research report on Wednesday. Citigroup reaffirmed a “market outperform” rating on shares of Accel Entertainment in a research note on Wednesday. Finally, National Bank Financial set a $15.00 target price on Accel Entertainment in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Insider Activity

In other news, insider Derek Harmer sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $13.00, for a total transaction of $260,000.00. Following the completion of the transaction, the insider owned 187,827 shares in the company, valued at $2,441,751. This trade represents a 9.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mark T. Phelan sold 25,000 shares of Accel Entertainment stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $13.00, for a total value of $325,000.00. Following the completion of the sale, the chief operating officer directly owned 241,464 shares in the company, valued at $3,139,032. This trade represents a 9.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 14.47% of the company’s stock.

Accel Entertainment Price Performance

ACEL stock opened at $12.19 on Friday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.64 and a current ratio of 2.47. The company’s fifty day moving average price is $12.51 and its 200-day moving average price is $11.82. Accel Entertainment, Inc. has a one year low of $9.55 and a one year high of $14.00. The company has a market capitalization of $991.74 million, a PE ratio of 18.19 and a beta of 1.02.

Accel Entertainment (NYSE:ACEL) last posted its earnings results on Tuesday, August 4th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The company had revenue of $368.13 million for the quarter, compared to analysts’ expectations of $356.66 million. Accel Entertainment had a net margin of 4.08% and a return on equity of 22.30%. On average, equities analysts anticipate that Accel Entertainment, Inc. will post 0.7 EPS for the current fiscal year.

Accel Entertainment Profile

Accel Entertainment, Inc is a Chicago-based gaming and entertainment company specializing in the provision of regulated electronic gaming terminals and related management services to licensed establishments across the United States. The company’s core offerings include video gaming terminals (VGTs), digital payment solutions, player loyalty programs and compliance support, all designed to enhance customer engagement and operational efficiency for bars, restaurants, truck stops and convenience stores.

Founded in 2005, Accel Entertainment has built a network that spans multiple states, including Illinois, Pennsylvania, Ohio, and Iowa.